BY BRAD BECKETT ON NOVEMBER 15, 2018
Recently released data continue to show that more and more new homes are being built as part of a homeowner’s association. Using data from the Census Bureau, the NAHB’s Eye on Housing reports that 60.7% of all homes started in 2017 were built within a community or homeowner’s association. In fact, since 2011 over 50% of all homes built fall into this category.
The Census Bureau defines community or homeowner’s associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions; these organizations are usually created when the development is built, and membership is mandatory.”